Symphony Limited has received a favorable order from the Additional Commissioner Grade-2 (Appeals), Judicial Division-III, State Tax, Lucknow, U.P., significantly reducing the GST demand for financial year 2017-18. The order dated April 22, 2026, was received by the company on April 23, 2026, and has been disclosed to the stock exchanges under Regulation 30 of the SEBI (LODR) Regulations, 2015. The disclosure was submitted by Mayur Chimanbhai Barvadiya, Company Secretary and Head – Legal.

Order Details

The GST Department, Lucknow, Uttar Pradesh, has substantially reduced the overall demand towards GST, penalty and interest. The revised demand now stands at Rs.28,162 against the original demand of Rs.2,64,93,374. This represents a significant reduction in the tax liability for the company.

Key Changes in Demand

The department has entirely dropped the interest liabilities of Rs.2,64,65,208 that were raised in its previous order dated February 22, 2024. This favorable outcome follows the company's earlier communication dated February 28, 2024, regarding the matter.

Impact Assessment

According to the disclosure, there is no material impact of this order on the financials, operations or other activities of Symphony Limited. The company has confirmed that the revised demand does not have any significant effect on its business operations or financial position.

Achal Anil Bakeri, promoter of Symphony Limited, has filed a regulatory disclosure with stock exchanges declaring that no encumbrance was created on the company's shares during the financial year ending March 31, 2026. The disclosure was submitted on April 03, 2026, in compliance with SEBI regulations governing substantial acquisitions and takeovers.

Regulatory Compliance Declaration

The declaration was made pursuant to Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Bakeri submitted the disclosure on behalf of both promoter and promoter group entities, confirming that no direct or indirect encumbrance on Symphony Limited shares occurred during FY26.

The filing was addressed to both the National Stock Exchange of India Limited (Symbol: Symphony) and BSE Limited (Security Code: 517385), ensuring comprehensive regulatory compliance across major stock exchanges.

Covered Entities and Persons

The declaration encompasses twelve distinct entities and individuals within the promoter and promoter group category:

Documentation and Verification

The disclosure document bears Bakeri's digital signature dated April 03, 2026, at 12:14:18 +05'30', providing authentication and timestamp verification. The filing was also copied to the company's Audit Committee, ensuring internal governance oversight of the declaration.

This regulatory filing demonstrates the promoter group's commitment to transparency and adherence to SEBI's disclosure requirements, providing shareholders and market participants with clear information about the absence of any encumbrance on promoter holdings during the specified financial year.